On September 18, 2024, Mayor Brandon Johnson and the Chicago Department of Housing announced the first two developments funded by the Housing and Economic Development (HED) bond. This initiative is part of a larger commitment to allocate between $230-250 million toward the construction and preservation of affordable housing in Chicago. The first project, CARE Manor, located in West Garfield Park, will consist of 44 affordable rental units, primarily aimed at households earning 60% or less of the Area Median Income (AMI). This development will feature essential amenities like on-site laundry and accessible units for individuals with physical disabilities. The second project, Prairie District, is a comprehensive rehabilitation of a six-story SRO building in the Near South Side, which will provide 100 affordable rental units, with 97 designated for those at 30-60% AMI.

Both developments are integral to addressing the housing crisis and improving the quality of life for residents in their respective neighborhoods. Mayor Johnson highlighted the significance of these initiatives in promoting equitable access to housing and fostering inclusive community growth. This announcement marks a bold step toward ensuring that all Chicagoans have a safe and affordable place to call home.